EvolutionIQ, a New York-based provider of a Claims Guidance platform, raised $21M in Series A funding.
The round was led by Brewer Lane Ventures, with participation from FirstRound Capital, FirstMark Capital, Foundation Capital, Altai Ventures, Asymmetric Ventures, Reliance Standard Life, New York Life Ventures, Guardian Life and Sedgwick.
The company intends to use the funds to expand the engineering, data science, product, and customer success teams who are responsible for its growth, including the development of new AI modules.
Led by Tomas Vykruta, CEO, and Michael Saltzman, COO, EvolutionIQ is provider of a claims guidance software, which combines the predictive power of historical claims analysis with unstructured claimant data and third party information to automatically identify high-opportunity claims.
The company actively monitors every open claim to guide frontline operators to those that require more attention, new actions, or complex decision-making.